© Reuters.
EMERYVILLE, Calif. – 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT), a clinical-stage genetic medicines company, announced today that it has initiated a public offering of its common stock valued at $250 million. The company has also given underwriters a 30-day option to purchase up to an additional $37.5 million in common stock.
The shares in the offering are to be sold solely by 4D Molecular Therapeutics. While the offering is contingent on market conditions, there is no certainty regarding the completion timing, size, or terms of the offering.
Goldman Sachs & Co. LLC, BofA Securities, Jefferies, and Barclays are serving as joint book-running managers for the offering.
4D Molecular Therapeutics is recognized for its work in ophthalmology and pulmonology. The company’s proprietary platform, Therapeutic Vector Evolution, leverages directed evolution—a Nobel Prize-winning technology—to develop customized vectors for genetic medicines.
The company is currently advancing several clinical-stage and preclinical product candidates targeting diseases in ophthalmology, pulmonology, cardiology, and the central nervous system through a gene editing partnership.
All of 4D Molecular Therapeutics’ product candidates are still in clinical or preclinical development and have not received approval from the FDA or any other regulatory authority.
The information in this article is based on a press release statement from 4D Molecular Therapeutics.
InvestingPro Insights
As 4D Molecular Therapeutics (NASDAQ:FDMT) embarks on a significant public offering of its common stock, insights from InvestingPro could offer investors a clearer picture of the company’s financial health and market standing. With a market capitalization of $1.38 billion, the company showcases a significant presence in the biotech industry. Despite a lack of profitability in the last twelve months, analysts are optimistic about sales growth in the current year. This optimism is reflected in the company’s impressive revenue growth, which soared by over 1013% in the last twelve months as of Q1 2023.
InvestingPro Tips highlight that while 4D Molecular Therapeutics holds more cash than debt, indicating a strong balance sheet, it also suffers from weak gross profit margins. The stock price has been quite volatile, which could be a point of consideration for investors looking for stability. On a positive note, the company’s liquid assets exceed short-term obligations, suggesting financial flexibility in the near term.
For those seeking to delve deeper into the company’s prospects, InvestingPro offers additional tips. Currently, there are 10 more tips available on InvestingPro, which can be accessed through a subscription. Right now, InvestingPro is offering a special New Year sale with discounts of up to 50%. To further sweeten the deal, use coupon code SFY24 to get an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 to get an additional 10% off a 1-year InvestingPro+ subscription. These offers can provide investors with comprehensive analysis and metrics to make informed decisions.
Investors considering participating in the stock offering or those currently holding FDMT shares may benefit from understanding these dynamics, especially in light of the company’s ambitious growth strategies in the field of genetic medicines.
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